Deep Yellow Limited (DYL) is a Namibian-focused, ASX listed advanced stage uranium exploration company that also has a listing on the Namibian Stock Exchange. DYL’s JORC Mineral Resource inventory in Namibia is 93.8 Mlbs U3O8, at an average grade of 329 ppm U3O8.
The Company’s Namibian exploration activities are conducted by a wholly-owned subsidiary, Reptile Uranium Namibia (Pty) Ltd., widely known as ‘RUN’. It has two core uranium projects, Omahola and the Tubas Sand Project.
Omahola is DYL’s flagship project, the last remaining independently-owned higher grade alaskite project in Namibia, which currently has a JORC compliant project resource of 48.7 Mt at 420 ppm for 45.1 Mlbs U3O8 at a 250 ppm cut-off from three deposits. DYL initially rapidly expanded this resource but more recently concentrated on conducting mining studies which will shortly be completed, which will allow an informed decision about the preferred processing route – acid tank or heap leach. Metallurgical testwork last year demonstrated that the ore is amenable to heap leach.
DYL is also advancing the Tubas Sand Project which consists of the mining and the physical beneficiation of a lower grade sand deposit. The current JORC compliant project resource is 24 Mt at 170 ppm U3O8 for 12.7 Mlbs U3O8at a 100 ppm cut-off although a resource upgrade of a smaller, higher grade zone is imminent. In concept the project could supply an intermediate uranium product to one of the two existing Namibian uranium producers, be a standalone producer or ultimately provide supplemental feed to enhance the Omahola Project. A trade off study to evaluate these options is underway, prior to making a decision to conduct a pre-feasibility study.
The Company also has palaeochannel calcrete resources as well as of an area unmatched exploration prospectivity which was demonstrated by the highly successful predictive modelling and targeting exercise completed late last year.